BTC BULL PENANT FORMATION

4 Mar 2023

Well it's pretty clear to me we are about to take off. Along with this bullish pattern forming we have bullish divergences forming on higher time frame oscillators. If we look at the SPY and NDX, they both had a bullish retest of the trendline that formed since the decline from ATH's. The majority of macro does seem to be pointing up for the time being. The only immediate thing to e aware of is the DXY, which may be forming a bull flag. If this pattern plays out and the DXY pushes higher, we could definitely see some more downside. Regardless, as long as BTC holds above 21375 we will maintain bullish market structure. Failure to push up and put in a higher high above 23350 leaves us trading in a range.